Wall Street's 4-day winning streak could be in jeopardy

The S&P 500 and Nasdaq closed at record highs yet again Wednesday. The Dow is coming off its highest close since Feb 1.

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The S&P 500 and Nasdaq closed at record highs yet again Wednesday. The Dow is coming off its highest close since Feb 1. Dow Jones Fut 26,124.57 Current: 26,085.00 Change: -62.00 Impl. Open: -52.57 S&P 500 Fut 2,914.04 Current: 2,910.75 Change: -4.00 Impl. Open: -3.99 NASDAQ 100 Fut 7,660.18 Current: 7,656.50 Change: -12.25 Impl. Open: -10.18 Russell 2000 Mini 1,734.75 Current: 1,733.80 Change: -2.80 Impl. Open: -1.75 Quotes as of 8/30/2018 8:10:57 AM ET BY THE NUMBERS U.S. stock futures were lower this morning, spelling a potential end to the four-day win streak for the Dow, S&P 500, and Nasdaq. The latter two closed at record highs yet again Wednesday. The Dow is coming off its highest close since Feb. 1. (CNBC) Campbell Soup (CPB) shares were lower after it announced this morning that it is selling two international units, including its Arnott's and Kelsen brands, as well as its fresh foods business as the 149-year old company struggles to regain its financial footing. (CNBC) •  Campbell beats earnings estimates, misses on revenue (CNBC) Other earnings out this morning include the latest numbers from Abercrombie & Fitch (ANF), Dollar General (DG), Dollar Tree (DLTR), Signet Jewelers (SIG), and Michaels (MIK). Lululemon (LULU) and Ulta Beauty (ULTA) issue quarterly earnings after today's closing bell. (CNBC) Amazon (AMZN) crossed the $2,000 per share level in premarket trading, a day after Morgan Stanley raised its price target to $2,500, the highest on Wall Street, representing a $1.2 trillion valuation. Investors will wait to see whether Amazon can close today above $2,000 for the first time ever. (CNBC) Two economic reports are out this morning concurrently at 8:30 a.m. ET, with the government releasing both weekly initial jobless claims as well as personal income and spending for July. (CNBC)   IN THE NEWS TODAY President Donald Trump said he's optimistic Canada will join the new trade deal the U.S. forged with Mexico. He also reiterated his Friday deadline for the NAFTA replacement, which he coined "The United States-Mexico Trade Agreement." (CNBC) •  U.S.-Mexico trade pact faces scrutiny from lawmakers (WSJ) •  Trump's NAFTA replacement may help labor but hurt business and the economy (CNBC) •  Trump signs proclamation allowing targeted relief on steel, aluminum quotas (Reuters) Less than a day after a new report confirmed that nearly 3,000 people on Puerto Rico died as a result of Hurricane Maria in 2017, Trump said at a White House event he believes his administration "did a fantastic job" responding to the storm. (CNBC) Late Arizona Sen. John McCain will receive a hero's welcome for three tribute-filled days beginning today. The 81-year-old's belief in the need for bipartisanship will be on display at the ceremonies and services. (USA Today) •  Grieving McCain photo inspired support, love (USA Today) Trump has been personally lobbying Republican senators to turn on Attorney General Jeff Sessions, according to Politico. He also reportedly raised the prospect of firing Sessions last week in a phone call with South Carolina's Lindsey Graham. Special counsel Robert Mueller asked a federal judge for more time to decide whether to seek a retrial for former Trump campaign boss Paul Manafort on 10 criminal charges that jurors were unable to reach a verdict on last week. (CNBC) Alphabet's (GOOGL) Google unit continues to come under attack from Trump, who said the search engine didn't promote his State of the Union address. Google said it did, in fact, do so. He also accused the company of anti-conservative bias. (CNBC) California has become the first state to abolish cash bail. Now, beginning in October 2019, most suspects arrested for low-level offenses or nonviolent felonies will be released within 12 hours of being booked. (Axios) General Motors (GM) suffered a setback in its plan to increase electric vehicle production in China, according to the Wall Street Journal. GM found that China-made batteries did not meet its performance and safety standards during testing. Google's new $50 Titan Security Key adds extra security to your account, and helps protect Facebook (FB), Dropbox and other services, too, but don't lose it. CNBC's Todd Haselton reviews the security device. •  Tech giants bet the future of TV is over $10,000 massive screens with eye-popping colors (CNBC) Apple (AAPL) has acquired a start-up focused on making lenses for augmented reality glasses, a signal the tech giant has ambitions to make a wearable device that would superimpose digital information on the real world. (Reuters) Starbucks' (SBUX) Frappuccino is getting a makeover. The U.S. coffee giant is putting its drink on a diet, looking to reduce its high sugar levels, which have scared away health-conscious consumers and hurt sales. (WSJ) STOCKS TO WATCH Salesforce (CRM) reported adjusted quarterly profit of 53 cents per share, 6 cents above estimates. The cloud software company's revenue also beat forecasts, but it also gave a weaker than expected profit outlook for the current quarter as it invests money to help boosts sales. PVH (PVH) earned an adjusted $2.18 per share for the second quarter, beating consensus forecasts by 8 cents, and the apparel maker saw revenue beat estimates. The maker of Calvin Klein, Tommy Hilfiger, and other apparel brands also raised its profit forecast for the year, although its current quarter earnings guidance falls below estimates. Guess (GES) beat estimates by 4 cents with adjusted quarterly profit of 36 cents per share, but the apparel maker's revenue fell below Street forecasts. The company also said it was on track to end the year with all of its business units profitable. Ford (F) remains on watch after Moody's downgraded its rating of the automaker's debt to one level above junk. Moody's cited shrinking profit margins in North America and continued losses in Europe, among other factors, but Ford said it is making progress in boosting its outlook and that the market will recognize that progress. Tempur Sealy (TPX) accused former customer Mattress Firm of selling copycat products that are "strikingly similar" to tis Tempur-Pedic brand, in a complained filed in federal court in Tampa, Florida. A long running supply deal between the two ended last year in a pricing dispute. Tronc (TRNC) said it would not comment on market rumors, following reports a buyer was interested in the media company. The "no comment" was issued during the company's earnings conference call, following its report of a lower than expected loss and a raised earnings outlook for the full year. WATERCOOLER Sorry, "Top Gun" fans. The release date for Tom Cruise's anticipated sequel will be delayed one year to June 26, 2020. Filmmakers will have the opportunity to work out the logistics of presenting flight sequences with new technology and planes. (USA Today) CONTRIBUTORS Berkeley Lovelace Jr. News Associate @BerkeleyJr Peter Schacknow Senior Producer @peterschack Feedback We value your input—use our simple form to let us know what you think. Click here for Real-Time data and top stories on your desktop or mobile device. Send this email to a friend Unsubscribe Advertise More Newsletters  Digital Products © CNBC Inc. All Rights Reserved. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632

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